2010-04-05-ATM-CPC-rpt - Laserfiche WebLink

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ARTICLE 8 (q) Project: Stone Building Exterior Stabilization CPA Category: Historic Resources Amount Requested: $202,933 Amount Recommended: $202,933 CPC Vote: (9-0) Project Description: This project is requesting funds to stabilize the Stone Building. A Historic Structure Report (HSR) was completed by Menders, Torrey, and Spencer during the summer of 2009. The HSR recommended immediate stabilization work, winterization of the building, which was completed in the fall of 2009 for approximately$12,000 and $40,000 was used to complete an HSR. The HSR detailed additional necessary, exterior stabilization work which includes a new roof, gutters, removal of aluminum siding, repair and painting of wood siding, and re-glazing of windows. This necessary, exterior stabilization work should be completed during the summer of 2010 and will cost $202,933. During 2009 ATM, Town Meeting authorized$180,000 in CPA funds for FY 2010 to perform the work outlined in the HSR needed to stabilize the building. However, after the HSR was completed, it was determined that $202,933 was needed to complete the exterior work on the building. Therefore, approximately $128,000 of the FY 2010 authorization has not been spent and will be returned to the CPA fund, so the net cost to the Community Preservation Fund (CPF) is approximately $75,000. Project Goals and Objectives: The goal of the project is to stabilize the building envelope and protect this historic structure while the future use of the building is determined. Project Benefit: The 2009 HSR report recommended that if the Town should decide to defer renovation and redevelopment of the Stone Building beyond the summer of 2010, then the building should be stabilized in 2010 to prevent the potential of water damage from leaks in the building envelope. Although the plan to utilize the Stone Building as a Heritage Collaborative is still in development, the value of stabilizing the building exterior at this time will not be lost in future construction/renovation should the Town decide to renovate the building interior and add an addition on the back of the building. Deferring the stabilization increases the risk of damage to the building from leaks in the building envelope and delays the opportunity to improve the aesthetics of the structure for the surrounding neighborhood. Funding Request: This project requests $202,933 in CPA funds to complete the building envelope stabilization. This funding request includes $2,000 to update the Massachusetts Historical Commission Inventory Form "B". 22